Abu Dhabi State Investor Takes $2B Stake In Brazil's EBX

Law360, New York (March 26, 2012, 12:27 PM EDT) -- Mubadala Development Co., Abu Dhabi's state-owned investor, has bought a $2 billion stake in Brazilian conglomerate EBX Group, which has oil and gas, mining, port infrastructure, and power businesses, the companies said Monday.

Mubadala will take a 5.63 percent equity stake in Centennial Asset Braazilian Equity Fund LLC, the holding company for billionaire owner Eike Batista's sprawling commercial, industrial and energy holdings. Batista said the cash will help fuel EBX's expansion into the technology, agrichemical and entertainment sectors.